This is a match we want tickets to. Pitting the Dollar Dominatrix against Obama and the Economic Superfriends promises to be the battle of the decade. In the right corner, "the top talent will drain out like nothing you've heard since Perot's 'Giant Sucking Sound.'" In the left corner, the $500,000 cap "because taxpayers are not going to fund greed." Ready? FIGHT!
"No one goes into Wall Street to save the world," Whitney said today in an interview on Bloomberg Television. "Compensation is the motivating factor."
Wall Street pay is getting scrutiny after New York banks and securities firm paid $18.4 billion in bonuses for 2008 while the six biggest New York-based financial companies lost a combined $42.4 billion and got $90 billion in government bailout funds. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said yesterday that "pay got a little exuberant."